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Updated October 5, 2019

Chase Sapphire Reserve Review: Is $550 Worth It?

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With excellent rewards and premium travel benefits, the Chase Sapphire Reserve is meant for frequent travelers. Read on to decide if the $550 annual fee is worth it for you.

Chase Sapphire Reserve
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Overall Score

4.2

Rewards

4.5

Fees

3.0

Benefits

5.0
5-point scale (the higher, the better)

Pros and Cons

  • Bonus points
  • Annual travel credit
  • Elite travel benefits
  • $550 annual fee
  • No introductory annual fee
  • No intro APR

Bottom Line

Ultra premium credit card for luxury travelers

Chase Sapphire Reserve went viral when it was released in August 2016. Thanks to its massive bonus, increased rewards rate, and long list of travel benefits.

The card has since swapped its original 100,000 points bonus for a 50,000 point bonus. And now comes another big blow - it now has a $550 annual fee (up from $450).

So, is the Chase Sapphire Reserve still worth applying for? Do the new benefits justify the increased annual fee?

Well, it depends. We'll go over the benefits and help you analyze whether this card makes sense for you.

In this article:

Bottom Line:
If you travel frequently, the Chase Sapphire Reserve could still be worth it. The reward rate is excellent and redemption value is strong. Chase also has the strongest lineup of airline and hotel partners, in our opinion. However, you will now have to be a larger spender in order to make up for the higher annual fee.

What is the Best Chase Credit Card Promotion for 2020?

ForCredit Card
TravelChase Sapphire Reserve
Small BusinessInk Business Preferred
Cash BackChase Freedom Unlimited

Who This Card is Good For

  • Frequent travelers. You get a $300 annual travel credit and 3x points on travel (after earning your $300 travel credit). Your points can be redeemed for travel on the Chase travel portal at 50% more value or be transferred to Chase airline and hotel partners at a 1:1 ratio.

    Counterpoint: If you're a casual traveler but still want to accumulate points for a vacation, consider the Chase Sapphire Preferred instead. It has a $95 annual fee.

  • Frequent diners. You also get 3x points on dining at restaurants. So even if you're not making a lot of travel purchases, you can still rack up points if you dine out often.

  • International travelers. You get airport lounge access and application fee credit for Global Entry. Both are useful perks if you often travel abroad.

    Chase Visa is also accepted worldwide, so you can use it just about anywhere.

Did you know: The luxury Sapphire Reserve card was so popular when it was first released that the manufacturer ran out of the materials to make it. Thankfully, that was temporary and metal credit cards were soon mailed out to those approved.

Pros & Cons

PROS:

  • Large welcome bonus
  • Bonus points on travel & dining
  • High redemption value
  • Annual travel credit can be used for any travel purchase
  • Premium travel perks, such as airport lounge access
  • Excellent travel & car rental protections
  • No foreign transaction fee
  • Cool luxurious metal card

CONS:

  • $550 annual fee, not waived the first year
  • No intro APR
  • New benefits may not be of use to everyone
  • Application rules and restrictions (see below)
  • Need excellent credit

Sign-up Bonus (At Least $750 Value)

You earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

What is this worth? When you redeem your points for travel through Chase Ultimate Rewards, they are worth 1.5 cents each, making those 50,000 point bonus worth $750 in value.

If you transfer points to airline partners, 50,000 points can be worth even more. For example, 50,000 points can be traded in for 2 round-trip flights from Los Angeles to Hawaii.

Chase Sapphire Preferred offers the same sign-up bonus. However, your points are only worth 1.25 cents each when redeemed through Ultimate Rewards (making it only $625 in value).

Earning Points

The Sapphire Reserve earns:

  • 3x points on travel (after earning your $300 travel credit)
  • 3x points on dining at restaurants worldwide
  • 1x point on all other purchases

Your 3x points on travel will start immediately after you've earned your $300 annual travel credit. You will not earn points for the first $300 spent on travel purchases each cardmember year.

We love that Chase has made this card rewarding for everyday use. A lot of other high-end travel cards focus on travel perks instead of earning points with purchases.

Chase also has a very broad definition of travel that includes:

  • Airlines
  • Hotels, motels, and homestays (like Airbnb)
  • Timeshares
  • Campgrounds
  • Car rentals and rideshares (like Uber and Lyft)
  • Cruise lines
  • Travel agencies and discount travel sites
  • Trains, buses, limos, and ferries
  • Tolls, bridges, and highways
  • Parking lots and garages

Redeeming Points

You get extra value when you redeem your points for travel purchases.

1. Get 50% bonus on the Chase travel portal:
Your points are worth 50% more when you redeem points for travel on the Ultimate Rewards travel portal. So your points are always going to be worth at least 1.5 cents each.

This means that a $450 flight will only cost 30,000 points when you redeem through Chase Ultimate Rewards.

You can book travel on Ultimate Rewards with any airline, for any dates. You have complete flexibility and don't have to worry about seat restrictions or blackout dates.

2. Transfer points 1:1 to airline and hotel partners:
Points can be transferred to partner airline and hotel programs at a full 1:1 value and with no fees. This will often earn the best value and reward redemption rate.

Airline transfer partners include:

  • Southwest Airlines
  • United Airlines
  • JetBlue
  • British Airways
  • Air France
  • Singapore Airlines
  • Emirates
  • Aer Lingus
  • Iberia Airlines
  • Virgin Atlantic

Hotel partners include:

  • Marriott Bonvoy
  • World of Hyatt
  • IHG Rewards Club

See our detailed guide on the best ways to use Chase's transfer partners.

Premium Travel Benefits

© CreditDonkey

Chase Sapphire Reserve Card may not have as many perks as the AMEX Platinum (from American Express, a CreditDonkey partner), but in our opinion, it offers a better balance of earning/redeeming value and practical benefits.

Let's go over the perks:

$300 Annual Travel Credit

This is one of the biggest benefits of the card. Every year, you get up to a $300 travel credit for travel-related purchases. As soon as you make a travel purchase on your card, Chase will automatically credit it back on your statement, until you reach $300.

This credit is eligible for any travel purchase (such as flights, hotels, trains, and even Uber). This is one of the most versatile and generous travel credits offered by premium credit cards. Other cards often have limitations.

In comparison, the AMEX Platinum (from American Express, a CreditDonkey partner) annual airline fee credit requires you to designate a specific airline and only reimburses incidentals.

This is huge. As long as you can spend at least $300 in travel expenses a year, the Reserve is worth considering. This effectively helps justify $300 out of the $550 annual fee.

Airport Lounge Access

© CreditDonkey

The Sapphire Reserve gives you complimentary Priority Pass Select membership. This gives you access to more than 1,000 airport lounges worldwide. You can even bring in 2 guests at no extra cost.

Generally lounges offer complimentary food, beverages, work space, and Wi-Fi. So you can also think of it as saving money on expensive airport food and drinks.

Lounges usually cost $50 per entrance, so if you travel at least 2-3 times a year, this perk will more than justify the remaining annual fee (after the $300 travel credit is deducted).

Enrollment is not automatic. You'll need to activate your membership once you open your Reserve account. Learn more here.

Note: Unlike some other cards, Sapphire Reserve Credit Card does not grant complimentary access to certain popular airline lounge networks. If you're a frequent traveler of the below airlines, consider whether another card will be more beneficial to you.

Read more for the best credit cards with lounge access.

$100 TSA Pre or Global Entry Credit

Every 4 years, you can choose to get a $100 application fee credit for either TSA Pre (expedite security screening) or Global Entry (expedite customs). You're automatically reimbursed when you apply to one of the programs with your Reserve card.

You're credited for 1 application per account. So if you don't need it, you can "gift" it to someone else.

Our tip: between the two, we recommend Global Entry if you qualify. Global Entry is more expensive ($100 for 5-year membership vs. $85 for 5-year membership), but it includes TSA Pre. So you kill both birds with one stone.

Visa Infinite Concierge

A lot of luxury card holders forget this is a service available to them, but it really could be a godsend. Visa Infinite Concierge can help with requests such as:

  • Making reservations at busy or international restaurants
  • Getting entertainment and sporting tickets
  • Making travel arrangements

The service is free, but you'll have to pay for anything you want to buy, of course.

Luxury Hotel Perks

The Reserve's hotel perks won't be useful for everyone. But it's a nice bonus if you enjoy splurging on luxury hotels.

  • Luxury Hotel & Resort Collection:
    Get perks when you book an eligible stay with the Chase's Luxury Hotel & Resort Collection. Enjoy perks such as complimentary breakfast, early check-in and late check-out, room upgrades, discounts, and extra gifts and amenities. Varies by property.

  • Accelerated access to Elite Status with Relais & Châteaux:
    When you book 2 nights (over the course of 12 months) with Relais & Châteaux, you'll be eligible for Club 5C status - giving you access to room upgrades, VIP welcomes, special events, and exclusive offers.

    Relais & Châteaux offers luxury properties around the world, including locations throughout the U.S., South America, Europe, and Africa. You'll need to book your stay with your Reserve card, through Visa Infinite Concierge.

Note: Sapphire Reserve Credit Card does NOT give you complimentary hotel elite status, unlike the AMEX Platinum which gives you Marriott Bonvoy Gold and Hilton Honors Gold status.

New 2020 Benefits

© CreditDonkey

On January 12, 2020, Chase Sapphire Reserve increased the annual fee to $550. To justify this increase, the Reserve added 2 new at-home benefits.

Let's go over what the benefits are and see if they're worth it for you.

Lyft Benefits

Reserve cardholders will get one year of complimentary Lyft Pink membership (normally $19.99/month). This membership gives you perks like:

  • 15% off every car ride
  • Priority airport pickups
  • 3 free cancellations per month if you rebook within 15 minutes
  • 3 free 30-min bike or scooter rides per month (only in a select cities)
  • Other discounts and exclusive savings

You or your authorized user must activate this offer with a Sapphire Reserve card by March 31, 2022.

In addition, you will earn 10X points on Lyft rides through March 2022.

For those who use rideshare services, this could save you quite a bit of money each year. If you usually drive yourself, then this won't be much value to you.

In comparison, the AMEX Platinum gives you up to $200 Uber credit per year - $15 credit each month, $35 in December.

DoorDash Benefits

DoorDash delivers food from local restaurants to your doorstep. Reserve members get:

  • Free DashPass subscription for one year
    This gives you free delivery and reduced service fees on orders over $12. You can also cancel your order anytime with no strings attached.

    This subscription normally costs $9.99/month.

  • $120 in statements credits
    You earn $60 in statement credits on DoorDash purchases through December 2020 and another $60 in statement credits through December 2021.

Free delivery and $60 food credit each year is not a bad deal. Even if you don't usually order takeout, you may as well make use of the food credit.

Authorized User Benefits

The Chase Sapphire Reserve will charge $75 per year for each authorized user. Some benefits include:

  • Get their own Priority Pass lounge access. They can also bring in 2 guests for free. If your authorized user travels a lot, it's GREAT value to get this just for $75/year.

  • They also earn 3x points on travel and dining. All their points go into your account.

  • You can transfer points to your authorized user's hotel or airline loyalty programs.

Note that authorized users do not get their own Global Entry/TSA-Pre credit or the $300 travel credit.

Is the Sapphire Reserve Worth It After The First Year?

After you've already collected your welcome bonus, is the Reserve still worth the $550 annual fee past the 1st year?

The Chase Sapphire Reserve was one of the best value travel rewards cards. It was super easy to justify the annual fee as long as you use up the travel credit and use airport lounges a few times a year. But what about now?

It's nice that Chase added some benefits you can use at home, though they may not be exciting to everyone. But if you're already a frequent user of DoorDash and Lyft, these new benefits can save you a lot of money and more than justify that extra $100 annual fee.

If you don't use these apps, the Reserve could still be worth it if you're a very frequent traveler. After the $300 annual travel credit, the annual fee effectively reduces to $250. This means that to break even, you'll have to spend $5,555 per year in travel and dining purchases. That's equal to 16,665 points, which is worth $250 when redeemed on the Chase travel portal. And if you visit airport lounges a few times, you'll get more than the annual fee's worth.

Now what about comparing the value to the Sapphire Preferred, which has a $95 annual fee and 2x points on travel and dining? You will have to spend $8,000 per year in travel and dining purchases to come out ahead in rewards. Here's the math:

Preferred: $8,000 x 2 = 16,000 points = $200 in travel on the Chase travel portal
Reserve: $8,000 x 3 = 24,000 points = $360 in travel on the Chase travel portal

$360 - $200 = $160 (which is the difference in the effective annual fees)

To recap - even if you don't plan on using the new benefits, the Reserve could be worth it if you spend a lot in travel and dining purchases every year.

Chase Sapphire Reserve Application

© CreditDonkey

To apply, visit Chase's website. Keep in mind some of these limitations. Don't wait until the last minute to apply if you have an upcoming travel purchase to make.

  • Credit score: This card is for those with excellent credit. Most Chase Sapphire Reserve cardholders have "excellent" scores over 720, with an average of around 750.

  • 5/24 rule: Chase has a rule that if you've opened 5 new credit card accounts (with any bank) in the past 24 months, your Chase credit card application will not be approved for a new card, even if you have amazing credit.

  • Sapphire rules: You cannot own more than one Sapphire-branded card. You're only eligible for the Reserve if you do not have another Sapphire Card AND have not received a bonus for a Sapphire card in the past 48 months. In other words, if you opened a Preferred card, got the sign-up bonus, and then closed it all within the past 48 months, you will not be eligible for the Reserve.

    If you have had a Sapphire Preferred card for over 4 years, you can cancel or downgrade it (like to a Freedom) first, and then wait 30 days to apply to the Sapphire Reserve. You'll be eligible to receive the sign-up bonus. If your Preferred is less than 4 years old, you can call to see if you can upgrade it to a Reserve, but you will not get the sign-up bonus.

Reserve Travel & Purchase Protections

© CreditDonkey

Chase Sapphire Reserve offers many of the same travel protection and purchase protection benefits that Chase Sapphire Preferred users enjoy. This can potentially save you money on travel hiccups.

Travel Protection Benefits:

  • Trip Cancellation/Trip Interruption Insurance: Do you need to cancel a trip because of sickness or severe weather? With trip cancellation/trip interruption insurance, you can be reimbursed for up to $10,000 per person and $20,000 per trip for your prepaid, non-refundable travel expenses, including airfare, tours and hotels.

  • Primary Auto Rental Collision Damage Waiver: Get primary coverage when you rent a car and decline the rental company's collision insurance. The coverage provides reimbursement for up to $75,000 for theft and collision damage for most rental cars. Learn about this benefit in detail.

    You also get rental privileges with National, Avis, and Silvercar. Benefits may include discounts and upgrades.

  • Roadside Assistance: Chase's roadside assistance covers up to $50 per incident, up to 4 times a year. Available services include towing, jumpstarting, tire changes, locksmith services, or gas fill-ups.

  • Trip Delay Reimbursement: If your flight is delayed by more than 6 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses (such as meals and lodging) for up to $500 per ticket.

  • Lost Luggage Reimbursement: If your carry-on or checked luggage is damaged or lost by your carrier, you can be reimbursed up to $3,000 per person (up to $500 per person for jewelry, watches, and electronics).

  • Emergency Medical Care: Sick on a trip? If you are at least 100 miles from home, you can get reimbursed for emergency medical care up to $2,500 for you or immediate family members. This includes coverage for emergency evacuation up to $100,000.

Purchase Protection Benefits:

  • Return Protection: You can be reimbursed for eligible items that the store won't take back within 90 days of purchase, up to $500 per item, $1,000 per year.

  • Extended Warranty Protection: This benefit extends the time period of the U.S. manufacturer's warranty by an additional year on eligible warranties of 3 years or less.

  • Purchase protection : For your new eligible purchases, you will be covered up to 120 days against damage or theft, up to $10,000 per claim and $50,000 per year.

See the full list of Chase Sapphire Reserve benefits.

How It Compares

© CreditDonkey

Chase Sapphire Reserve vs. AMEX Platinum:
The Chase Sapphire Reserve is a worthy contender against the Platinum Card from American Express (a CreditDonkey partner). Both are popular cards in the high-end travel card category.

For the same annual fee, the Platinum card offers more benefits and credits. However, many of the discounts are geared towards booking premium travel, so it's definitely more ideal for luxury travelers.

The AMEX Platinum shines with its Platinum Concierge Service, access to Centurion Lounges and Delta SkyClub lounges, premium Uber benefits, complimentary Marriott Bonvoy Gold status, and complimentary Hilton Honors Gold status. Added together, the value of these Platinum benefits make up for the steep $550 annual fee (See Rates & Fees), for luxury travelers.

However, the Sapphire Reserve may be better for everyday use.

The Chase Sapphire Reserve has more flexible annual travel credit, and its 3x points on dining offers great value for those who don't travel as frequently. The AMEX Platinum offers only a $200 airline credit for incidentals with a selected airline of your choice, while the Sapphire Reserve's $300 credit can cover any travel purchase.

Remember, too, that American Express is not accepted everywhere, while Visa is accepted pretty much worldwide. Here is a side-by-side comparison:

 

Chase Sapphire Reserve®

The Platinum Card® from American Express

 
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select
  • Up to $100 application fee credit for Global Entry or TSA Pre✓®
  • One Year Complimentary Lyft Pink ($199 minimum value). Complimentary DashPass subscription from DoorDash after activating by 12/31/21.
  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
  • Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
 

Interest Rates and Fees

Purchase APR18.49% to 25.49% Variable based on your creditworthiness and other factorsN/A
Balance Transfers APR18.49% to 25.49% Variable based on your creditworthiness and other factorsN/A
Annual Fee$550 annual fee$550 annual fee
 

Benefits and Features

Airline Rewards1:1 point transfer to leading airline and hotel loyalty programs5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
Point Rewards3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases.1 point for virtually every dollar spent.
Airline Status$300 Annual Travel Credit (as reimbursement for travel purchases charged to your card).
Complimentary Priority Pass™ Select membership for access to 1,000+ airport lounges worldwide. Enrollment required for Priority Pass Select
$200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
Access to 5 airport lounge networks including The Centurion® lounge network, The International American Express lounges, Delta Sky Club® lounges, Priority Pass(TM) Select, and Airspace Lounge. Enrollment required for Priority Pass Select.
Airline Transfer PartnersChase airline transfer partners include United Airlines, Southwest Airlines, JetBlue, British Airways, Air France, Singapore Airlines, Virgin Atlantic, Iberia, Emirates, and Aer Lingus.Airline transfer partners include Delta, Hawaiian Airlines, Aeromexico, Air Canada, Air France, Emirates, Cathay Pacific (Asia Miles), Virgin Atlantic, Singapore Airlines, Etihad, Alitalia, All Nippon Airways and more.
 Apply NowApply Now

Chase Sapphire Reserve vs Citi Prestige:
The Citi Prestige is another popular luxury travel reward card.

Both cards feature travel benefits, including complimentary Priority Pass Select membership.

However, one other major advantage is that you get a complimentary night for a 4-night stay at any hotel (when booked through the ThankYou Travel Center). If you use this perk, it can add up to quite a bit of savings.

Another thing to consider is the airline partners of both cards. Chase is partnered with United, Southwest, and JetBlue. But Citi's only domestic carrier is JetBlue.

 

Chase Sapphire Reserve

Citi Prestige

 

Interest Rates and Fees

Purchase APR18.49% to 25.49% Variable based on your creditworthiness and other factors16.99% to 23.99%* (Variable) based on your creditworthiness and other factors
Balance Transfers APR18.49% to 25.49% Variable based on your creditworthiness and other factorsSee Issuer's Website
Annual Fee$550 annual fee$495 annual fee
 

Benefits and Features

Bonus DealEarn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®Earn 50,000 bonus points after spending $4,000 within 3 months of account opening.
Travel3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
1:1 point transfer to leading airline and hotel loyalty programs
 
Airline1:1 point transfer to leading airline and hotel loyalty programsEarn 5x points on air travel
Hotel1:1 point transfer to leading airline and hotel loyalty programsEarn 3x points on hotels
Points3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases.Earn 1x points on other purchases
Airline Status$300 Annual Travel Credit (as reimbursement for travel purchases charged to your card).
Complimentary Priority Pass™ Select membership for access to 1,000+ airport lounges worldwide. Enrollment required for Priority Pass Select
$250 Travel Credit each calendar year for eligible travel purchases
Complimentary Priority Pass™ Select membership.
Hotel Status Complimentary 4th Night at a hotel of your choice after a minimum 4 consecutive night booking through ThankYou.com. Note: Beginning 9/1/2019, this benefit will be capped at 2 times, each year.
Restaurant3X points on dining at restaurantsEarn 5x points at restaurants
Airline Transfer PartnersChase airline transfer partners include United Airlines, Southwest Airlines, JetBlue, British Airways, Air France, Singapore Airlines, Virgin Atlantic, Iberia, Emirates, and Aer Lingus.Airline transfer partners include Asia Miles, EVA Air (Star Alliance), Etihad Guest, Flying Blue, Garuda Indonesia (SkyTeam), Malaysia Airlines (Oneworld), Qantas, Qatar Airways (Oneworld), Singapore Airlines (Star Alliance), Thai Airways (Star Alliance), and Virgin Atlantic.

Citi Prestige: Pricing information including interest rates, rewards, benefits and fees was obtained on March 20, 2020 from published websites and is believed to be accurate, but not guaranteed.

Disclaimer: The information for the Citi Prestige® Card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

Chase Sapphire Reserve vs Preferred:
The Preferred has long been a favorite of travelers for its flexibility of use and good rewards rate. Compared to the Reserved, it's like a baby version, with a way smaller annual fee.

However, that smaller annual fee also gets you smaller rewards.

The Preferred only gives 2x points on travel and dining. The points are worth 1.25x more value when used to book travel through Chase Ultimate Rewards (as opposed to the Reserve's 1.5x value). They can also be transferred 1:1 to partner travel programs. Unlike the Reserve, the Preferred does not offer any ultra-premium perks such as lounge access, annual travel credit, or TSA Pre/Global Entry credit.

Here is a side-by-side comparison of the Sapphire Reserve and Preferred:

 Chase Sapphire ReserveChase Sapphire Preferred Card
 Apply NowApply Now
 

Chase Sapphire Reserve®

Chase Sapphire Preferred® Card

 

Interest Rates and Fees

Purchase APR18.49% to 25.49% Variable based on your creditworthiness and other factors17.49% to 24.49% Variable based on your creditworthiness and other factors
Balance Transfers APR18.49% to 25.49% Variable based on your creditworthiness and other factors17.49% to 24.49% Variable based on your creditworthiness and other factors
Annual Fee$550 annual fee$95 annual fee
 

Benefits and Features

Introductory Bonus OfferEarn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
Airline Rewards1:1 point transfer to leading airline and hotel loyalty programs1:1 point transfer to leading airline and hotel loyalty programs
Point Rewards3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases.2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide
Airline Status$300 Annual Travel Credit (as reimbursement for travel purchases charged to your card).
Complimentary Priority Pass™ Select membership for access to 1,000+ airport lounges worldwide. Enrollment required for Priority Pass Select
 
 Apply NowApply Now

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

In our opinion, the Chase Sapphire Preferred is a great stepping-stone for people not yet ready to commit to a $550 annual fee. If you travel only occasionally, the Chase Sapphire Preferred is easier to justify. Read our in-depth Chase Sapphire Preferred vs Reserve article to learn more.

Chase Sapphire Preferred Card
Apply for Chase Sapphire Preferred Card
At Chase's Secure Site
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
17.49% - 24.49% Variable
$95

Frequently Asked Questions

  • How much is each Sapphire Reserve point worth?
    This depends on how you redeem them. If you purchase travel through the Chase Ultimate Rewards travel portal, each point is worth 1.5 cents. Since you get 3x points on travel (immediately after earning your $300 travel credit) & dining purchases, this means that each of your dollars spent on travel and dining can be redeemed for as much as 4.5 cents if you redeem them for travel through Chase Ultimate Rewards. You can make each point worth even more by transferring your points to airline and hotel partners.

    Redeeming for statement credit or direct deposit makes each point worth only 1 cent.

  • What airline and hotel partners can you use with Chase Sapphire Reserve?
    Here are the current Chase Sapphire Reserve airline transfer partners:

    Hotel partners are:

  • What counts as travel to use the $300 annual credit?
    Chase considers the following as travel: airlines, hotels, motels, timeshares, rideshares (such as Uber), car rentals, cruises, travel agencies, discount travel sites, campgrounds, trains, buses, taxis, limos, ferries, highway & bridge tolls, and parking lots and garages. Though not specifically stated, community-powered services, such as Uber and Airbnb, count as travel too.

    Things NOT considered travel include: real estate agents, in-flight services, on-board cruise services, sightseeing activities & tourist attractions, excursions, and merchants within hotels and airports.

  • How does this credit work?
    It's automatically credited to your statement after a travel purchase. If you make a lot of small purchases, you'll get credited back until you reach $300. If you make a large travel purchase, you'll be credited up to $300 of it.

    This credit resets on each anniversary year (for applications submitted on or after May 21, 2017), and leftover amounts are NOT rolled over.

  • Can the $300 travel credit count as part of the minimum spend?
    Yes. You can purchase travel items as part of your minimum spend period, and get the $300 annual credit reimbursement. You do not need to spend another $300 to meet the $4,000 requirement.

  • Is it worth it to add authorized users?
    It depends on how frequently your authorized user flies, and whether you need help meeting the spending minimum or earning points. If your authorized user flies frequently, they can make up for the $75 fee by taking advantage of the Priority Pass Select lounge access. Chase also lets you transfer points to your authorized user's hotel or airline loyalty programs, so you can gift them points if they need a little bit of help to get a free night or flight.

  • Does the authorized signer have access to the Global Entry Credit?
    No, however, all authorized users do get access to the card purchase protection.

  • Can I transfer or pool the points with other cards?
    Yep. The Sapphire Reserve is part of the Ultimate Rewards family of cards. So you can pool your points with any of the following cards: Sapphire Preferred, Freedom, Freedom Unlimited, Ink Business Cash, and Ink Business Preferred.

    You can also transfer your points to Ultimate Rewards cards belonging to anyone in your household, as long as they share the same address. Head over to our review of Ultimate Rewards for more info regarding earning, pooling, and redeeming your points, along with step-by-step guides on making a transfer.

Bottom Line

© CreditDonkey

Is a $550 annual fee credit card worth applying for? I think the answer depends. Some people may find the new benefits valuable, while some may feel disappointed. Overall, for frequent travelers - especially internationally - the Sapphire Reserve is worth it. It offers an excellent sign-up bonus and rewards, strong airline and hotel partners, and a wide array of travel perks.

If you don't spend enough annually on travel, you may want to consider the Chase Sapphire Preferred instead. Based on our calculations, you'd have to spend $8,000 per year on travel and dining purchases to come out ahead in rewards with the Reserve.

Next Step: View the issuer's official application, terms, and details

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase. This site may be compensated through the Advertiser's affiliate programs.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

For rates and fees of the American Express Platinum card, please click here.

Disclaimer: The information for the Chase Freedom, Ink Business Cash Credit Card, Citi Prestige® Card, and Citi® / AAdvantage® Executive World Elite™ Mastercard® has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

More from CreditDonkey:


Chase Sapphire Preferred Review


Redeem Chase Ultimate Rewards


Chase Ultimate Rewards Review



Chase Sapphire Reserve
Apply for Chase Sapphire Reserve
At Chase's Secure Site
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select
  • Up to $100 application fee credit for Global Entry or TSA Pre✓®
  • One Year Complimentary Lyft Pink ($199 minimum value). Complimentary DashPass subscription from DoorDash after activating by 12/31/21.
  • Go to issuer's official application, terms, and details
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
18.49% - 25.49% Variable
$550

Compare Chase Sapphire Reserve to:

Compare Chase Sapphire Reserve vs Chase Sapphire Preferred

Chase Sapphire Preferred® Card

Compare Chase Sapphire Reserve vs American Express Platinum

The Platinum Card® from American Express

Compare Chase Sapphire Reserve vs American Express Gold

American Express® Gold Card


Chase Sapphire Reserve Benefits

Chase Sapphire Reserve has benefits you may not know. Don't waste these valuable perks. Read this guide to maximize Chase Sapphire Reserve benefits.

Learn more about Travel, Airline and Hotel cards:

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Hotel

About CreditDonkey®
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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.